🚀 Meme Coins on Fire: DOGE, SHIB, PEPE Set to Soar as Bitcoin Smashes $122K ATH

Meme coins are riding Bitcoin's coattails—again. With BTC punching through $122,000 for the first time ever, the usual suspects (DOGE, SHIB, PEPE) are lining up for their next dopamine hit.

The Meme Machine Churns On

No fundamentals? No problem. Retail traders are piling back into crypto's favorite joke assets, because nothing says 'rational market' like dog-themed tokens outpacing tech stocks.

Liquidity Tsunami

Bitcoin's record run has opened the floodgates for altcoin speculation. Exchanges report meme coin volumes doubling week-over-week—just in time for the 'greater fool' theory to get its quarterly validation.

Warning Lights Flash

While the charts scream 'moon,' seasoned traders note the eerie similarity to 2021's blow-off top. But hey, this time it's different—until the Fed ruins the party again.

One hedge fund manager quipped: 'We've moved from 'number go up' to 'number go brrrr.'' Make of that what you will.

Dogecoin’s recovery run reclaims $0.20

Dogecoin appreciates over 4% at press time on Monday, and exceeds the 200-day Exponential Moving Average (EMA) at $0.2028 following a rounding bottom reversal. 

A decisive daily close above the dynamic line WOULD extend the uptrend in DOGE towards $0.2145 resistance level last tested on Friday. If DOGE pushes past this level, it could target the $0.2500 psychological level, followed by the May 11 high of $0.2597.

The technical indicators point to increased bullish momentum as the Relative Strength Index (RSI) reads 67 on the daily chart, slightly below the overbought zone, and the Moving Average Convergence/Divergence (MACD) indicator displays a surge in histogram bars above the zero line. 

DOGE/USDT daily price chart.

However, if Dogecoin fails to uphold above the 200-day EMA at $0.2028, it could extend the decline to the 100-day EMA at $0.1901.

Shiba Inu eyes further gains amid rising bullish momentum 

Shiba Inu bounces off the 100-day EMA by over 4% at the time of writing on Monday, hinting at a bullish start to the week. The recovery run gains traction after multiple Doji candles since Friday, as SHIB retested the 100-day EMA. 

The meme coin targets the immediate resistance of $0.00001421, which previously acted as a crucial support level in late May. With a daily close above this level, investors could target the $0.00001567 level last tested on May 23, while the 200-day EMA at $0.00001452 remains a short-term resistance. 

The RSI reads 68 on the daily chart, inching closer to the overbought zone, while the MACD indicator shows a surge in bullish momentum with the rising histogram bars above the zero line. 

SHIB/USDT daily price chart.

If SHIB corrects and closes below the 100-day EMA, it could retest the 50-day EMA at $0.00001248. 

PEPE’s golden crossover hints at an extended rally

Pepe leads the rally among top meme coins with a 6% surge at press time on Monday, following a silent weekend marked by Doji candles NEAR $0.00001200. Pepe’s recent descending triangle breakout rally gains traction amid increasing bullish signals on the daily chart. 

If PEPE exceeds the $0.00001362 resistance level last tested on June 10, it could stretch the rally towards the May 23 high of $0.00001632. 

Sidelined investors could consider the 50-day EMA crossing above the 200-day EMA, a sign that a short-term trend is outgrowing the longer-term slowdown. The technical indicators hold a bullish incline with the RSI at 68 nearing overbought conditions and the MACD and signal lines crossing above the zero line. 

PEPE/USDT daily price chart.

On the contrary, if PEPE reverses below the $0.00001196 support level last tested on Saturday, it could extend the decline to the 200-day EMA at $0.00001094.